The Soviet Union also went bankrupt and collapsed.
Not before the supermarket shelves were empty and people were growing vegetables on their balconies to stay alive. If we’re going down that road (which I’m afraid we are), this thing is just getting started. The endgame of an ideologically-driven economic collapse is very, very ugly. You have starvation, freezing to death, things like that. Things are still quite nice here. We could go downhill on this path for another 50 years.
The sort of backwards-think displayed in your post is exactly what got us in this mess I might add.
Hey, I don’t like it either! I said in my post we should require 20% down! I am after all one of the ideologically unfaithful, renting a place, driving an old car, paying off my credit cards every month and saving my spare American pesos in the bank. I’m just calling it like I see it. I realize that people like me are not the norm and in fact are hated and despised by the society at large. Remember that outside of the public sector, our society manufactures very little. Most people with middle-class jobs outside of the government or defense contracting are involved in the shuffling of money from one place to another, the charging of fees, etc… People like me don’t put any sheckles in their pockets so they will try to minimize our influence. They want everyone borrowing, paying late fees, paying refinancing fees from here to eternity. That’s how they pay their mortgages. It’s a grand con and I am not participating. Unfortunately people like me are in the minority and our numbers are destined to diminish year by year until the inevitable collapse finally comes.
